HuffPost reported Thursday that a woman alleged that Ford, a Democrat who represented the area around Memphis, Tennessee, in Congress from 1997 to 2007, forcibly grabbed her one evening in Manhattan, engaging in harassment and intimidation. The incident took place several years ago and there are emails that confirm the interaction, HuffPost reported.

"He has been terminated for conduct inconsistent with our values and in violation of our policies," Morgan Stanley said in a statement.

In a tweet Ford denied the allegations. "This simply did not happen. I have never forcibly grabbed any woman or man in my life," Ford wrote.

Ford told HuffPost that, "False claims like this undermine the real silence breakers. I will now be bringing legal action against the reporter who has made these false claims about me as well as Morgan Stanley for improper termination."

Ford joined Morgan Stanley in 2011 as a managing director. He was a Democratic congressman for Tennessee from 1997 to 2007.

He is also a frequent guest on MSNBC's "Morning Joe." MSNBC -- which is owned by NBC 4 New York's parent company, NBCUniversal -- had no immediate comment, NBC News reported.

Ford's firing comes amid allegations of sexual harassment and assault toppling key figures in the entertainment and political arena. Time magazine on Wednesday named the "Silence Breakers" its Person of the Year. They shared personal stories about harassment and assault and sparked the #MeToo movement.